Fri, Sep 20, 2019 @ 03:52 GMT
On March 26, China launched its, and also the world’s, first renminbi-denominated crude oil futures. The debut appeared successful with 20M barrels of oil changed hands on average in each of the first two trading days. This represents 3%...
According to the CFTC Commitments of Traders report for the week ended July 9, NET LENGTH for crude oil futures fell -2 661 contracts to 390 149 for the week. Speculative long positions dropped -7 484 contracts and shorts...
According to the CFTC Commitments of Traders report for the week ended August 14, gold and silver futures surprisingly recorded NET SHORTS, as traders expected prices to weaken further. NET SHORT for for the former was 3 688 contracts,...
Crude oil prices have steadied after the sharp correction over the past 7 weeks. Supporting the recovery are hopes of OPEC or OPEC+ production cut next month. OPEC and non-OPEC producer would meet in Vienna on December 6, discussing...
Speculators were mixed over the energy complex in the week ended April 24. Net LENGTH for crude oil futures plunged -15 708 contracts from a week ago to 712 423. NET LENGTH of heating oil rose +6 420 contracts to...
Crude oil prices have declined for 6 consecutive weeks. A confluence of factor has triggered the sharp selloff: concerns that the slowdown of Chinese economic growth would accelerate, reports that Russia would not join OPEC to cut output further,...
Oil bulls are relieved after the OPEC/ non-OPEC decision on production. At the joint statement released on June 23, the oil producers announced that they would “strive to adhere to the overall conformity level, voluntarily adjusted to 100%, from...
Both oil benchmarks rallied for two days in a row. The front-month WTI crude contract has obviously outperformed, accumulating gains of 6.7% over the past two days. The Brent contract added +3.8% during the period. WTI's rally was driven...
Donald Trump confirmed that the US would withdraw from the Iran nuclear deal, an agreement reached in 2015 between Iran, the P5+1 (5 UNSC permanent members including US, France, Russia, UK, China + Germany) and the European Union. New...
Speculators were mixed over the energy complex in the week ended May 1. Net LENGTH for crude oil futures plunged -21 696 contracts from a week ago to 690 727. NET LENGTH of heating oil rose +4 341 contracts to...
Energy prices remained under pressure as US- China trade re-escalates. According to the CFTC Commitments of Traders report for the week ended August 13, NET LENGTH for crude oil futures increased +6 503 contracts to 382 144 for the...
The deal made by OPEC+ to cut output had only limited boost the oil prices. The renewed selloff in crude oil prices, indicating another leg of downturn, is driven by concerns over global growth slowdown, decline in stock markets...
CFTC Commitments of Traders Speculators turned bearish over the energy complex in the week ended April 3. Net LENGTH for crude oil futures plunged -16 225 contracts from a week ago to 699 545. NET LENGTH of heating oil slipped...
Crude oil price weakened for a third consecutive day. Besides the risk-off mode driven by intensifying US-China trade war, further increase in oil inventory has substantiated near-term bearishness in the oil market. The report from the US Energy Information...
Crude oil prices remain under pressure after reaching 3.5-year highs in mid-May. While both benchmarks are declining, the selloff of WTI crude oil has been more severe than its Brent counterpart, resulting in a widening of WTI- Brent spread...
Crude oil prices climbed higher for the second consecutive day as a report showing unexpected expected decline in US inventory. Meanwhile, Russia pledged that it would fully comply with the output cut deal this month. However, caution is advised...
According to the CFTC Commitments of Traders report for the week ended August 7, traders turned less bullish towards the energy complex. They trimmed bets for crude oil and heating oil futures, while raising short positions on gasoline futures....
The report from the US Energy Information Administration (EIA) shows that total crude oil and petroleum products stocks jumped +5.36 mmb (consensus: +0.74 mmb) to 1187.73 mmb in the week ended April 27. Crude oil inventory soared +6.22 mmb...
According to the CFTC Commitments of Traders report for the week ended April 9,  NET LENGTH for crude oil futures jumped +35 301 contracts to 516 662 for the week. Speculative long positions rose +31 454 contracts while shorts...
According to the CFTC Commitments of Traders report for the week ended April 2,  NET LENGTH for crude oil futures jumped +32 742 contracts to 481 361 for the week. Speculative long positions rose +29 760 contracts while shorts...
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